Slope Realty Sells Mixed-Use Property In Park Slope, Brooklyn For $4.55M
SOLD
$4,550,000
New York
See Similar DealsMixed-use7,244 SF
Sold 10/09/2020
SOLD
Slope Realty Sells Mixed-Use Property In Park Slope, Brooklyn For $4.55M
396 7th Ave, Brooklyn, NY 11215, USA
See Similar DealsMixed-use7,244 SF
Sold 10/09/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$628
Total Square Footage:7,244 SF
Transaction Type:Sale
The mixed-use property located at 396 7th Avenue in Park Slope, Brooklyn has been sold in a closed transaction. The property consists of 2 commercial units and 6 residential units, offering a total of 7,244 square feet. The sale price for this transaction was $4,550,000, resulting in a price per square foot of $628. This indicates a cap rate of 5.5% for the property.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,550,000
- Address: 396 7th Avenue, Park Slope, Brooklyn
- Market: Park Slope, Brooklyn
- Asset Type: Mixed-use
The seller of the property is Slope Realty. The deal was facilitated by brokers Adam Hess and Edward Setton from Meridian Capital Group.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$242,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,165.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,569.32
Annual Debt Service$258,831.86
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